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TCC Ties Up Land for Industrial Development

PORTLAND, OR-Trammell Crow Co. is gearing up for a two-building, 201,000-sf industrial park on 11.2 acres in the Columbia Corridor. The project is 45% preleased. It will be built in one phase and be complete this time next year.

By Brian K. Miller | Updated on January 30, 2005

PORTLAND, OR-Trammell Crow Co. expects to break ground in May for Columbia Corporate Park, a two-building, 201,000-sf industrial park in the Columbia Corridor that is 45% preleased. In partnership with an undisclosed insurance company, TCC is in the process of purchasing almost 15.5 acre (11.2 buildable) at Airport Way and Northeast 166th Avenue from Eastern Western Corp. It expects to close on the land in March, break ground in May and complete the project by January 2006.The park will include two concrete tilt-up buildings, one about 135,000 sf and the second approximately 66,000 sf. Already inked is a long-term lease with Moulding & Millwork Inc. for 90,000 sf or two-thirds of the larger building. Monthly triple-net asking rental rates for the remaining space are $0.35 per sf for warehouse shell with an office surcharge of $0.65 per sf. The smaller building will be offered for lease at the same price or for sale at $67 per sf. The smaller building also could be shrunk to allow for more yard space.TCC senior vice president Dave Ellis will be handling the leasing along with vice president Scott Kappes. TCC senior vice president Dirk Otis will oversee the development. Mildren Design Group will serve as architect and engineer.Ellis tells GlobeSt.com that Moulding & Millwork is consolidating operations from multiple buildings in the Tigard Central Industrial Park. “There were a lot of developers chasing [Moulding & Millwork],” says Ellis. “A lot of existing buildings didn’t have the special features–such as grade-level doors–they needed for their operation. We happened to have a site that worked well for them and were able to put a building together that functionally worked for them.”

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